You would think that four points wouldn't make a difference, but you can actually tell. I have a .38 and a .42 and the smaller stone does look a tad smaller.
I guess it mostly depends upon your budget as to which you would choose, but if possible, I'd go for the .47s.
If you are looking to match a pair, it has to be based on diameter, but there probably is too much difference between .43 and .47. If you are just trying to decide is a .43 pair will look smaller than a .47 pair, that is tougher. Diameter, not carat weight is what matters in both cases. The rule of thumb that I have seen is that .1mm diameter is generally the visible size difference mark, but earrings are less sensitive to everything, color, clarity, and size differences, since you don't view them up close.
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